Heron Therapeutics (NASDAQ:HRTX) Earns "Sell (E+)" Rating from Weiss Ratings

Key Points

• Heron Therapeutics has received a "sell (E+)" rating from Weiss Ratings, with other analysts also adjusting their ratings, resulting in a consensus rating of "Hold" and an average target price of $4.50.
• The company reported a loss of ($0.02) earnings per share for the last quarter, missing estimates, along with revenue of $37.20 million, which also fell short of expectations.
• Insider purchases have occurred, with Director Adam Morgan buying 1,766,546 shares and major shareholder Rubric Capital Management acquiring 2,387,225 shares, both at an average price of $1.50 per share, indicating increased confidence in the company.

Heron Therapeutics (NASDAQ:HRTX - Get Free Report)'s stock had its "sell (e+)" rating reaffirmed by Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Several other equities research analysts have also issued reports on the stock. Needham & Company LLC cut their price objective on shares of Heron Therapeutics from $4.00 to $3.00 and set a "buy" rating for the company in a report on Friday, August 8th. Zacks Research raised shares of Heron Therapeutics to a "strong sell" rating in a report on Tuesday, August 12th. Finally, Wall Street Zen lowered shares of Heron Therapeutics from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Two research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $4.50.

Heron Therapeutics Trading Up 2.3%

Heron Therapeutics stock opened at $1.35 on Wednesday. The firm has a 50 day moving average of $1.36 and a 200 day moving average of $1.81. The firm has a market capitalization of $247.48 million, a price-to-earnings ratio of -67.50 and a beta of 1.25. Heron Therapeutics has a 12-month low of $1.04 and a 12-month high of $2.68.

Heron Therapeutics (NASDAQ:HRTX - Get Free Report) last released its earnings results on Friday, August 8th. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The company had revenue of $37.20 million for the quarter, compared to the consensus estimate of $38.08 million. Heron Therapeutics has set its FY 2025 guidance at EPS. On average, analysts predict that Heron Therapeutics will post -0.13 EPS for the current year.

Insiders Place Their Bets

In related news, Director Adam Morgan purchased 1,766,546 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was bought at an average cost of $1.50 per share, for a total transaction of $2,649,819.00. Following the completion of the transaction, the director directly owned 8,753,290 shares in the company, valued at $13,129,935. This represents a 25.28% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Rubric Capital Management Lp purchased 2,387,225 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was bought at an average price of $1.50 per share, with a total value of $3,580,837.50. Following the completion of the transaction, the insider owned 29,100,728 shares of the company's stock, valued at $43,651,092. The trade was a 8.94% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 5.86% of the company's stock.

Institutional Trading of Heron Therapeutics

A number of institutional investors have recently bought and sold shares of HRTX. RFP Financial Group LLC bought a new stake in Heron Therapeutics in the first quarter worth $26,000. R Squared Ltd bought a new stake in Heron Therapeutics in the second quarter worth $26,000. B. Riley Wealth Advisors Inc. bought a new stake in Heron Therapeutics in the second quarter worth $26,000. Valeo Financial Advisors LLC lifted its position in Heron Therapeutics by 34.1% in the first quarter. Valeo Financial Advisors LLC now owns 18,152 shares of the biotechnology company's stock worth $40,000 after buying an additional 4,619 shares during the last quarter. Finally, Russell Investments Group Ltd. bought a new stake in Heron Therapeutics in the second quarter worth $43,000. 80.01% of the stock is currently owned by institutional investors.

Heron Therapeutics Company Profile

Heron Therapeutics, Inc, a commercial-stage biotechnology company, focuses on enhancing the lives of patients by developing and commercializing therapeutic that enhances medical care. The company's product candidates utilize its proprietary Biochronomer, a drug delivery technology, which delivers therapeutic levels of a range of short-acting pharmacological agents over a period from days to weeks with a single administration.

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